Harmony Gold Mining Co. (ADR) (HMY) was Upgraded by Macquarie to ” Neutral”. Earlier the firm had a rating of “Underperform ” on the company shares. Macquarie advised their investors in a research report released on Jul 1, 2016.
Harmony Gold Mining Co. (ADR) opened for trading at $3.48 and hit $3.64 on the upside on Wednesday, eventually ending the session at $3.6, with a gain of 7.14% or 0.24 points. The heightened volatility saw the trading volume jump to 55,79,067 shares. Company has a market cap of $1,570 M.
Harmony Gold Mining Company Limited is a gold-mining and exploration company. The Company has operations in South Africa and Papua New Guinea. In South Africa the Companys operations are focused on the Witwatersrand Basin and the Kraaipan Greenstone Belt. The Company operates nine underground mines one open-pit mine and several surface operations. The Companys operations in Papua New Guinea form part of a 50% joint venture with Newcrest Mining Limited. These operations include the Hidden Valley open-pit gold and silver mine the Wafi-Golpu project and exploration tenements. In addition to its joint venture work Harmony also has a 100%-owned exploration portfolio that focuses on prospective areas in Papua New Guinea. The Golpu project is a differentiating feature for Harmony and is one of the gold copper porphyries in South East Asia with an expected life-span of approximately 40 years. It has a diameter of approximately 600 meters and a proven depth of approximately 1700 meters.